The Growing Competition Among Educational Institutes

The students are becoming much more and more selective and demanding when it comes to the study providers. The basic awareness level of the students has rapidly enhanced and the internet has developed a competition among the educational institutes which is growing day by day. Today the students are becoming very much focused and oriented refer their careers, they take decisions with a lot of care and due diligence, they do not just haste in taking such important decisions and spend a lot of time plus go through a lot of surveys to come to a final conclusion. They have also now a days, so many options to choose from, they study the past results and reviews which concern the rating of the institutes and then decide something (Isen, Labroo and Durlach, 2004). The choice which is made by them at that time shall decide the future growth of them and this aspect and clarity are very much in their minds. They spend a lot of time and energy to find out the best among the best, choice of the educational institute is based upon so many things such as the availability of courses, campus life, fee structure, management, infrastructure, faculty, employment prospects etc (Isen, Labroo and Durlach, 2004). The payment of the academic fee is also considered as main aspect and factor in taking a decision. Many of the students have basic access to educational scholarship while others have to avail an educational loan so as to pay their academic fees and other educational related fees.

Holmes institute is a well known institute of the education which not only provides the vocational training and education but along with this the higher and the secondary education. Institute is having its own centres in different cities such as the Gold coast, Brisbane, Melbourne, Sydney, Hong Kong and Cairns. The quality of the education which the Holmes institute provides to the students helps them in developing competencies and skills, which proves to be helpful in the different criteria’s of the life and such helps is provided by the institute irrespective of the nationality and the gender of the students. Institute attracts both the international and the domestic students. The environment that is given by the Holmes institute is the student –Centric and help them to gain learning and develop an approach towards the ethical conduct, rational thinking, and social responsibility (Isen, Labroo and Durlach, 2004). The raining modules of the institute keep on changing as per the changing trends of the industry.

The Changing Mindset and Behaviour of Students

The research purpose is to identify how the educational institutes make sure and tries hard to influence and understand the decision-making process of the children. There are various theories that are concerned and related to the client behaviour which should be taken into account by the educational institutes at the time of targeting the students (Kahn, 2005). The demographic features plus the psychographic features of the students play a vital role in carefully influencing the final decisions made by them which deal with the educational institutes (Carranza Esteban and Ramírez, 2014). The demographic profiling also considers the important information about the clients such as the age, gender, educational background, level of income and so on. The psychographic features assist in understanding the client behaviour in a much advanced manner by keeping in mind and taking into account their attitude, values, lifestyle, interests, opinions, personality traits etc (Carranza Esteban and Ramírez, 2014). A comprehensive survey has been completed to carefully analyse the decision making process that is further followed up by the students and also the main factors which impact their actual decisions making and decisions (Kahn, 2005).

The main aim and objective of the study are to recognize the impact of motivations, personality, and emotions on the decision making the process of the students regarding the choice of the educational institute. The report will help in analysing the various factors which impact the choice of the student with the aspects which are considered by the student while choosing the institute of Holmes as compared to the other institute of education (Kim and MacCann, 2016).

The report will not only analyse the decision process of the students but will also discuss about the demographic and psychographic characteristics of the students considered as a sample for the studies. Certain theories develop a great understanding of the consumer behaviour (Kogut, 2011). The report will develop the relationship between the theories and the decision making the process that is involved in the process of choosing Holmes institute for the higher education.

To be in the market, regardless of the business and industry you are in, there is a need for an organization to spread and market its name. Even the educational institutes cannot be kept spare of the need of advertisement. The theories related to customer behaviour and the psychology of human mind is the basis of the marketing methodology adopted by the educational institutes (Kogut, 2011). It is essential to understand the requirements and queries of customers for improving the efficiency of the strategy adopted for marketing. The theories of consumer behaviour refer to many aspects of utility importance, post-purchase behaviour, personality and emotional aspect in purchasing decision also the individual v/s group buying decisions. Icek Ajzen and Martin Fishbein introduced the reasoned action theory. According to this theory, the probable outcome is administered by the behaviour of customers. A certain action sequence is selected if a specific outcome is desired. The behaviour of the customer is in a rational manner and their decisions are based on pre-existing thoughts and attitudes. The theory tells that decisions that every customer takes are in their own benefit (Kogut, 2011). Every customer is gifted of the tendency to alter his mind from the very moment when he decides to take an action till he ends up completing it. Therefore, based on the theory, the educational institutes should be associated with positive outcome (Kong and Maute, 2010). For e.g. the Holmes Institutes management can relate the learning facilities to the complete personality development along with the prospect of good employment.

Holmes Institute: A Leading Provider of Education and Training

The Engel Kollet Blackwell (EKB) model gives the ides about the various steps contributing to the purchase decisions of the customer (Kong and Maute, 2010). The initial step involved is collecting data based on advertising communication focused to the clients. The gathered information is evaluated with the results expected and past experiences (Kong and Maute, 2010). The customer takes decisions depending on their logical thinking. Some internal and external factors influence the choices the consumer makes. Hence, institutes should specify complete knowledge of the services provided to customers. Institutes should give reasons to clients for taking into consideration their skills and facilities to purchase. Institutes try to distinguish themselves from their rivals for attracting consumers (Kong and Maute, 2010).

Abraham Maslow proposed the theory of Hierarchy of needs. The theory gives 5 different stages of human needs in a form of a pyramid. Physiological needs inspire individual performance the most. These Physiological desires are accompanied by the needs of safety, belongingness, esteem and self-actualization (Barnett and Klitzing, 2006). Any organization giving away services needs to have the tendency to house it on the ladder of needs pyramid (Quick and Byrd-Bredbenner, 2013). The organization should give out the messages to generate awareness about the needs and requirements in the consumer’s mind (Barnett and Klitzing, 2006). Educational institutes should be able to convince customers of the need to provide quality education to students for their better shaping up of future. They should be able to motivate students to choose quality education and spend money accordingly towards something that can offer brighter career prospects. 

Based on the detailed research, a report has been prepared which aligns to the aim of the study. Primary data was collected to carry out this study. A survey was conducted through a questionnaire prepared for collecting data, which helped in conducting a quality-based analysis. Many aspects of the customer behaviour were included for getting trustworthy results, in the questionnaire. Likert scale was used to prepare the survey questionnaire. Students chosen as respondents to the questionnaire were of the graduate level. About 70 graduates’s response has been taken of the participants (Barnett and Klitzing, 2006). Easy sampling techniques were used for performing this research (Quick and Byrd-Bredbenner, 2013). The students were made aware about the objective behind conducting the survey before their filling up the questionnaire. After a face to face interaction, the students were asked to take the survey. The survey results were stored in a spreadsheet. After analysing the data, based on the results were given the recommendations and conclusions were made.

Understanding the Decision-making Process of Students

Students of both the sexes were given the questionnaire to carry out the survey. Of the 70 graduates, who appeared for the survey, 28 were females and rest males. The age group of the students varied from 22-25 years. Different students were from different ethnic backgrounds as well, who participated in the survey, 48 respondents being Australian and the remaining rest Asian. The surveyed students had negligible income (Quick and Byrd-Bredbenner, 2013). Some of the students were doing small jobs in their free time between their studies. The survey respondents were the students pursuing graduation in the field of business, fashion, accounting and Information Technology. The respondents actively participated in social activities along with their academics. They were active participants in events, contests, and competitions on-campus or off-campus. Technology is inseparable from their lifestyle. They love to conquer new technology and are always enthusiastic about it. These students are tremendously flexible towards their approach to life. They are not hesitant to change. They want their present and healthy lifestyle to be a part of their lives, even after finishing their academics (Barnett and Klitzing, 2006). These students strongly believe that the educational qualification of a good standard and good pay scale would help them sustain their healthy lifestyle they presently have. They believe, being able to earn well would help them save and fulfil their desires and dreams (Shani, Danziger and Zeelenberg, 2015). Working hard and continuously developing skills is what they believe in. These students have taken their career seriously and moving to a new and different city or locality would not shy them away if it would be their job requirement.

Data analysis based on survey brought the following results:

Out of all the participants of the survey, 40% agreed that the choice of their educational institute is based on its location and that it should be in the city they desire to live in.

More than 70% students approved of the presence of clubs and other recreational activities as attractions.

Nearly 65% students choose Holmes Institute as they well-thought-about the opinion of close friends and family.

The students, who visited the sites of social media and the official institute’s website for knowing about the information like, the institute’s vision, campus life, faculty, events, policies, social activities was more than 95%

Just 12% students coined on the choice of the institute in a city where their family resides. 60% were neutral.

The Role of Demographic and Psychographic Features in Decision Making

Around 85% believes, Holmes Institute has a good alumni base, successful in their individual fields.

70% of the students took the opinion of the existing students and their feedback prior to their admission in Holmes Institute.

Around 60% checked faculty credentials and also staff before choosing Holmes Institute.

Over 70% of students mentioned that their option of choosing the educational institute was in accordance with the course they wanted to opt for.

92% stated that they chose Holmes Institute for getting a good job.

More than 85% checked for the hostel availability before seeking admission in the institute. They averaged out the on-campus and off-campus hostel facility for students before finalizing their enrolment in Holmes Institute.

Some of the students also believed that getting into Holmes Institute was value for money as it would get them a good exposure and job.

Conclusion

There are many theories associated with customer behaviour that is applicable to making the choice of educational institute. It is very important for institutes providing education to realize the influencing factors that help the students in decision-making. Based on the results of the conducted survey, the core motive of choosing a specific institute is for getting/receiving quality education along with a high-profile job. Different students have distinctive personality traits that impact their decision-making. Let’s say, for example, a student on practical grounds would think of the tuition fee, living charges and various other expenses involved before enrolling in an institute. One major prospect considered while selecting Holmes institute was the availability of the course, recreational facilities, faculty, family and close friends opinion, housing facility, the information the official website shared along with the social media, job prospects, feedback from existing students and above all fee structure (Xia and Sudharshan, 2002). 

The complete official website that includes all the information about the educational institutes is what the educational institutes needs. They need to have all the vital information required for drawing domestic and intercontinental students. The fee structure must be mentioned in a descriptive manner. Offering merit-based scholarships would attract the international students. The students should be encouraged for foreign-exchange programs. Exceptional faculty members should be employed for the excellence of education. Revising the syllabus periodically should be done. Medical facilities should be accessible, accommodation for international pupils for making their learning worthwhile (Xia and Sudharshan, 2002). The courses need to be designed to give students both theoretic and practical understanding. Subjects that are part of the curriculum should be helpful in developing skills and competencies with respect to the industrial requirements. Constant projects and presentations are required to be given to scholars for refining their skills. Their participation in events and activities should be encouraged which would help them in their personality enhancement. The courses offered should be helpful for students in getting high-profile jobs. The educational institutes should deliver practical training to students and provide job opportunities by having tie-ups with different industries after conducting interviews. This would certainly support in attracting international students. 

References

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